Citic Pa­cific prof­its rise by 9 per­cent on en­ergy sec­tor

China Daily (Canada) - - BUSINESS -

Prof­its of Citic Pa­cific, the builder of the world’s big­gest mag­netite mine in Aus­tralia, rose by 9 per­cent in 2013 based on good per­for­mances by its spe­cial steel and en­ergy businesses. Net in­come last year was HK$7.6 bil­lion ($980 mil­lion), the com­pany said on Feb 20. Prof­its from the spe­cial steel busi­ness soared by 519 per­cent in 2013 to HK$1.3 bil­lion. to in­crease Air­bus’ share in the Harbin Hafei Air­bus Com­pos­ite Man­u­fac­tur­ing Cen­ter from 20 to 25 per­cent. The Euro­pean air­plane man­u­fac­turer did not re­lease fur­ther de­tails about the trans­ac­tion. The cen­ter in Harbin, Hei­longjiang prov­ince, is owned by Air­bus and a group of Chi­nese part­ners, in­clud­ing some sub­sidiaries of AVIC.

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